Construction Spending Shows Small Dip in December

February 5  Construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2% below the revised November estimate, according to the latest figures from the U.S. Census Bureau.

The December figure is 9.9% below the December 2008 estimate of $1,002.1 billion.

Spending on private construction was at a seasonally adjusted annual rate of $593.0 billion, 1.2% below Novemberís estimate. Residential construction was off more than twice the overall private rate2.8% below the revised November figure. Non-residential private construction was 0.2% above the previous month.

In December, public construction spending was off by the same 1.2% versus November.